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Visual 3
Watching Money Grow with Deposits
Three factors affect how money grows
in a savings account.
- the amount you save
- the interest rate
- the length of time you save
Let's see what happens when a saver
SAVES LARGER AMOUNTS with the
SAME interest rate for the SAME number of years. |
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A |
B |
C |
D |
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Amount of
Deposit
|
Annual
Interest
Rate |
Number
of Years
|
Total at the end of the time period
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$ 1,000 |
4% |
10 |
1,480.24 |
|
5,000 |
4% |
10 |
7,401.22 |
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25,000 |
4% |
10 |
37,006.11 |
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100,000 |
4% |
10 |
148,024.43 |
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